Lifeline Biotech ( LLBT LLBO)

[stockhound101]

But isn't the company basically buying us out at a price of their choosing with this conversion? Also, what is the time frame for us getting paid?
I hope it's not five years as he bogus PR suggested.

I read the bogus PR again and it really didn't make much sense unless the actions were solely for the purpose of trying and trap a possible short position.

I believe that it may have been deliberately posted in order to mislead us.

If LBTN has a proven technology and I tend to believe that at least they believe they do. Then the value of this company will go through the roof IMO as well, but won't we be locked out from reaping our just reward as investors on the open market with this conversion?

I guess the only thing we can do for now is wait for the other shoe to drop and I'm only going to go by what latest official PR states.

The corrected release reads:

LIFELINE BIOTECHNOLOGIES, INC. EXTENDS STOCK EXCHANGE DATE

Lifeline Biotechnologies, Inc. (Pink Sheets:LBTN) today announced the Company is extending the date that its common shareholders can submit their common stock certificates pursuant to its exchange program. Lifeline Biotechnologies, Inc. is offering to exchange its Series B Convertible Preferred Stock, which the Company is valuing at $1.00 per share, for common shares of stock submitted to the Company’s transfer agent by May 18, 2007, which the Company is valuing at $.000625 per share, a premium to the current market price. This means for every 1,600 shares of common stock submitted to the Company for exchange, shareholders will receive one share of Series B Convertible Preferred Stock valued at $1.00 for future conversion purposes.

Current shareholders must have their shares to OTC Corporate Transfer Service Company by May 18, 2007, unless extended by the Company, in order to qualify for the exchange of common shares to Series B Convertible Preferred Shares. Shareholders must submit a minimum of 100,000 shares of common stock. The Series B Convertible Preferred Stock will be protected from any future stock restructuring by the Company. For the complete terms and conditions of the stock exchange program, the Company will be posting particulars on its website www.lbtn.com. In addition, the Company will prepare and mail to its shareholders of record an Information Statement disclosing the terms and conditions of the exchange.

"We are very pleased to be able to offer our shareholders this exchange program. With our program announcement today, we are reaffirming our confidence and optimism in the long-term future of the Company. As more information becomes available, it will be provided on our website and or through press releases," stated Jim Holmes, President of Lifeline Biotechnologies, Inc.